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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Compliance, Tax, Legal, Regulatory more

Morsi refers controversial Islamic bonds law to Egypt’s Al-Azhar

Posted on 02 April 2013

Egypt’s Islamist President Mohamed Morsi Sunday referred a controversial draft law on Islamic bonds – sukuk – to Al-Azhar’s Senior Scholars Authority. The Salafi Nour Party has lobbied to refer the draft law to the Al-Azhar in application of the provisions of the Constitution.
A delegation from the Salafi Nour Party, the second largest party in the Shura Council, visited Grand Imam of Al-Azhar University, Ahmed El-Tayyeb, earlier in March to inform him of the party’s position. Last week, Al-Azhar criticized the draft law, saying it gives the prime minister the power to form the authority that issues the bonds………………………………………..Full Article: Source

 
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